Posts for Ticker ‘MU’

Intel Guidance Highlights Peers & Comps (INTC, AMD, MSFT, NVDA, MU, DELL)

Intel LogoIntel Corporation (NASDAQ: INTC) is raising guidance this morning.  What is interesting is that this may actually highlight the strength among its peers and competitors more than it drives Intel shares alone.  The guidance was raised based upon “stronger than expected demand for microprocessors and chipsets.”

The processor giant now sees Q3 revenue of $9.0 billion, plus or minus $200 million.  This is above its prior target of $8.5 billion plus or minus $400 million.  Thomson Reuters had estimates at $8.55 billion.

Intel stock is up 4.5% at $20.35 on about 5.2 million shares.  But the real strength is on rival Advanced Micro Devices (NYSE: AMD), which is also supposedly seeing stronger demand from all the PC and netbook demand out there.  AMD shares are up 5.2% at $4.45 on right at 1 million shares.

And what about Microsoft Corporation (NASDAQ: MSFT)?  Windows 7 has to at least be a part of this as the increased demand for processors since it is probably not all going into Linux suddenly… Its shares are up 2.2% at $25.22 on only about 400,000 shares.  This may actually be a trading disappointment to some.
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Posted on: August 28, 2009 – 9:31 am in PC Companies, Semiconductor, Technology Companies, Trading Alert, , , , , ,

Mini Earnings Season on Deck Thursday (PALM, ACN, MU, LEN, CAG, FINL, JTX, TIBX)

Money Stack ImageThursday is shaping up to be a miniature one-day version earnings season this week.  This is likely the last of the major earnings reports we’ll see for another three or four weeks until the real earnings season for Q2-2009 kicks off.  On deck are the likes of Palm Inc. (NASDAQ: PALM), Accenture Ltd. (NYSE: ACN), Micron Tech Inc. (NYSE: MU), Lennar Corporation (NYSE: LEN), ConAgra Foods, Inc. (NYSE: CAG), Finish Line (NASDAQ: FINL), Jackson Hewitt Tax Service Inc. (NYSE: JTX), and TIBCO Software Inc. (NASDAQ: TIBX).  Below are preview summaries for each company’s expectations and supporting notes.
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Posted on: June 24, 2009 – 4:34 pm in Earnings, Housing, Technology Companies, , , , , , , ,

Media Digest 6/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   Global consumer confidence is improving.

Reuters:   GM (GM) filed for Chapter 11 and expects a quick exit.

Reuters:   Most US retailers probably had sales drop in May.

Reuters:   China gave Geithner backing for the US programs to stimulate the economy. Read More »

Posted on: June 2, 2009 – 2:58 am in Autos, Banking, China, Compensation, Economy, FDA, Financial Stocks, Hardware, Mergers and Buy Outs, Press Digest, Retail, Semiconductor, Semiconductors, , , , , , , , , , , , ,

Analysts Changing Semiconductor Ratings (ALTR, AMCC, ASML, BRCM, LSCC, MRVL, WFR, MU, PMCS, STM, XLNX)

We have seen many semiconductor and circuit calls this morning with upgrades and downgrades from Wall Street analysts.  Here are some of these upgrades and downgrades:

Altera (ALTR) Cut to Underweight at Morgan Stanley.
Applied Micro Circuits (AMCC) Cut to Underweight at Morgan Stanley.
ASML (ASML) Cut to Neutral at Goldman Sachs.
Broadcom (BRCM) Raised to Overweight at Morgan Stanley.
Lattice Semiconductor (LSCC) Cut to Underweight at Morgan Stanley.
Marvell Tech (MRVL) Raised to Overweight at Morgan Stanley.
MEMC (WFR) Raised to Equal Weight at Morgan Stanley.
Micron Technology (MU) Raised to Overweight at Morgan Stanley.
PMC-Sierra (PMCS) Cut to Equal Weight at Morgan Stanley.
STMicroelectronics (STM) Raised to Buy at Goldman Sachs.
Xilinx (XLNX) Cut to Underweight at Morgan Stanley.

JON C. OGG

Posted on: May 18, 2009 – 6:45 am in Analyst Calls, Semiconductor, , , , , , , , , , ,

Top Analyst Downgrades (CLX, CTV, HD, IPI, MU, WSM)

These are some of the top analyst downgrades or negative research calls we have seen early this Monday morning:

Clorox (CLX) Cut to Underperform at Bernstein.
Commscope (CTV) Cut to Neutral at UBS.
Home Depot (HD) Cut to Market Perform at Bernstein.
Intrepid Potash (IPI) Cut to Sell at Soleil.
Micron (MU) Cut to Neutral at UBS.
Williams-Sonoma (WSM) Cut to Market Perform at Bernstein.

JON C. OGG

Posted on: May 11, 2009 – 6:46 am in Analyst Calls, , , , , ,

Top Analyst Downgrades (AMSC, T, MU, MS, RWT, SYMC, UBSI, VZ)

These are some of the top pre-market analyst downgrades and cautious research calls from Wall Street this Thursday morning:

American Superconductor (AMSC) Cut to Hold at Deutsche Bank.
AT&T (T) Cut to Neutral at at JPMorgan.
Micron Tech (MU) Cut to Hold at Deutsche Bank.
Morgan Stanley (MS) Cut to Market Perform at KBW.
Redwood Trust (RWT) Cut to Neutral at at JPMorgan.
Symantec (SYMC) Cut to Hold at Jefferies.
United Bankshares (UBSI) Cut to Underperform at KBW.
Verizon (VZ) Cut to Neutral at at JPMorgan.

JON C. OGG

Posted on: May 7, 2009 – 6:24 am in Analyst Calls, , , , , , , ,

Does Micron Really Need Cash? (MU)

burning-money-pic9Micron Technology, Inc. (NYSE: MU) is trading lower ahead of a proposed secondary offering to raise cash.  Last night, the company announced that it intends to offer common stock and convertible senior notes for a combined total of roughly $450 million.  It looks like this will be some 55,300,000 common shares, plus the possibility of an additional 8,295,000 shares as an over-allotment option for underwriters.  This would represent roughly $250 million based on recent prices.  It also intends to sell some $200 million in convertible senior notes due October 15, 2013 in simultaneous or concurrent offering, along with the possibility of an additional $30 million as an over-allotment option for underwriters.

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Posted on: April 8, 2009 – 11:21 am in Secondary Offering, Semiconductor,

Can Rambus Regain Its Shine? (RMBS, MU)

Rambus_logoCalling last week a rough spot for Rambus, Inc. (NASDAQ: RMBS) might be the understatement of the year.  This was after a federal judge in Delaware ruled that the chip patent shop could not enforce some of its patents against Micron Technology Inc. (NYSE: MU).  Rambus is far from dead, but this case could at least in theory go to the core of patent shops which manufacture nothing on their own which and live off of royalty and license payments from manufacturers.

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Posted on: January 12, 2009 – 8:59 am in Law, Regulation, Semiconductor, Shareholder Issues, ,

Media Digest 12/24/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, authorities do not think Madoff could have acted alone.

Reuters show that the US is sinking deeper into recession.

Reuters reports that the SEC defended it response to the economic turmoil.

Reuters reports that CIT (CIT) and American Express (AXP) received banking status.

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Posted on: December 24, 2008 – 3:46 am in Press Digest, , , , , , , , , ,

It’s Official: DRAM, The World’s Worst Commodity Business (MU)

Dram_picThe reports out of DRAMexchange are showing some good trends and some bad trends.  The good trend is that every day DRAM and computing power is getting cheaper and cheaper for you and me.  The bad news is that the business side for producers continues to get worse and worse.  As you will see, being a DRAM manufacturer may be the world’s worst business to be in.

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Posted on: November 25, 2008 – 8:50 am in Semiconductor, Technology Companies,

Major S&P Stocks On Decade Lows (AA, AMAT, AMD, DOW, EK, GCI, HOG, INTC, IP, JNY, M, MU, MSFT, NWL, NWS, SLE, STX, LUV, HOT, YRCW)

Broken_merger_torn_moneyCovering any part of the positives in this market has been literally as rewarding as jumping in the bear cage with the bears at the zoo.  We have been refraining from doing as many stocks which are on 52-week lows as the list is just too many companies.  But after the close we perused the entire S&P 500 and a few more large companies.  We reached down in the barrel and found an extensive list of stocks which are now trading at lows of the entire decade.   Fortunately for the seriously depressed, we took out the stocks which are financials, autos, housing, REIT’s, and penny stocks.  Below is the full list.

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Posted on: November 20, 2008 – 6:39 am in HI/LOW, Technical Analysis, Trading Alert, , , , , , , , , , , , , , , , , , , ,

Low Cost Computing Poses Major Risk At PC & Tech Companies (DELL, HPQ, IBM, INTC, AMD, MU, STX, AAPL)

Hp_logoDell_logoWith earnings from the top two PC giants roughly two weeks away, we have many about what lies ahead for the tech sector.  Dell Inc. (NASDAQ: DELL) reports earnings on November 20, and Hewlett-Packard Company (NYSE: HPQ) reports on November 24.  It is far too soon to preview these earnings, but it is becoming clear that they along with their competitors and suppliers are being hurt by the slowing economy.

We have seen plenty of evidence from the likes of Intel Corp. (NASDAQ: INTC), Advanced Micro Devices (NYSE: AMD), Micron (NYSE: MU), Seagate Tech (NYSE: STX), and even from Apple (NASDAQ: AAPL) to know about the slow PC season.  This will be seen in the evidence below, but the rapid decline in orders from the end of September into October has been too difficult to not observe, and the trend shows no signs of slowing down.

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Posted on: November 8, 2008 – 8:31 am in Consumer Electronics, PC Companies, Technology Companies, , , , , , , ,

Micron Earnings Show A Turnaround That Can’t Turn (MU)

Micron_logoMicron Technology, Inc., (NYSE:MU) showed a fourth quarter net loss of $344 million, or $0.45 EPS, on net sales of $1.45 billion. These results include a non-cash charge to cost of goods sold of $205 million and the effect of a recovery of $70 million for price adjustments for NAND products purchased from other suppliers.  On a non-GAAP basis its earnings were -$0.27 per share.  First Call had estimates at -$0.23 on $1.54 billion in revenue.

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Posted on: October 1, 2008 – 3:30 pm in Earnings, Semiconductor,

The 52-Week Low Club 8/26/2008 (NT)(MU)(NYX)(SIRF)

Sad_clownNortel Networks (NT) Analyst downgrade hits shares. Falls to $5.51 from 52-week high of $19.50.

Micron Technology (MU) Sell-off in sector. Drops to $4.21 from 52-week high of $12.

NYSE Euronext (NYX) Concerns that stock exchange profits are being hurt by financial markets. Sell off to $37.36 from 52-week high of $95.25.

Sirf Technology (SIRF) Judge recommends ban on company’s imports. Plunges to $1.51 from 52-week high of $30.61.

Douglas A. McIntyre

Posted on: August 26, 2008 – 2:52 pm in HI/LOW, , , ,

52-Week Low Club (AEG, AMD, BKD, CHRT, CMG, CVI, GEHL, JOBS, LRCX, LSCC, MNI, MU, MSA, NOOF, RYL, THQI, VMED, WSM)

Today was another ugly day on Wall Street as sellers are winning over the conviction that the rumors that the bear was dead might be grossly exaggerated.  You’ll probably recognize many chip stocks on here today.  While financials led the selling today, most financial stocks were not on 52-week lows.  Here are today’s stocks that hit new 52-week lows:

  • Aegon (NYSE: AEG)
  • Advanced Micro Devices (NYSE: AMD)
  • Brookdale Senior Living (NYSE: BKD)
  • Chartered Semiconductor (NASDAQ: CHRT)
  • Chipotle Mexicann Grill (NYSE: CMG)
  • CVR Energy (NYSE: CVI)
  • Gehl Company (NASDAQ: GEHL)
  • 51Job inc.. (NASDAQ: JOBS)
  • Lam Research (NASDAQ: LRCX)
  • Lattice Semiconductor (NASDAQ: LSCC)
  • McClatchy (NYSE: MNI)
  • Micron Tech (NYSE: MU)
  • Mine Safety Appliances (NYSE: MSA)
  • New Frontier (NASDAQ: NOOF)
  • Ryland Group (NYSE: RYL)
  • THQ Inc. (NASDAQ: THQI)
  • Virgin Media Inc. (NASDAQ: VMED)
  • William Sonoma (NYSE: WSM)

Jon C. Ogg
July 28, 2008

Posted on: July 28, 2008 – 2:54 pm in HI/LOW, , , , , , , , , , , , , , , , , ,

The 52-Week Low Club 7/24/2008 (CDNS)(SVU)(MU)(TIE)(CMG)(WFR)

Sad_clownMEMC Electronic Materials (WFR) Results miss Wall St. forecasts. Falls to $41.58 from 52-week high of $96.08.

Chipotle Mexican Grill (CMG) Analyst downgrades. Shares off to $67.26 from 52-week high of $155.49.

Titanium Metals (TIE) Airplane customers cutting metal orders.Drops to$10.27 from 52-week high of$36.50.

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Posted on: July 24, 2008 – 2:56 pm in HI/LOW, , , , , ,

Micron Dribbles Earnings (MU)

Micron Technology, Inc., (NYSE:MU) posted earnings at -$0.30 EPS on net sales of $1.5 Billion.   First Call had estimates at -$0.28 EPS on $1.47 Billion in revenues.

The company generated $217 million in cash flow from operating activities during the third quarter of fiscal 2008 and ended the quarter with $1.6 billion in cash and investments.

The company didn’t offer any fixed outlook in its press release, so all ears that care after a day like today will be on that conference call.  As Wall Street had a dismal day, shares are indicated modestly lower after a 7.1% drop to $6.99 in regular trading.

Jon C. Ogg
June 26, 2008

Posted on: June 26, 2008 – 3:13 pm in Earnings, Semiconductor,

Mini Tech Earnings Season Next Week (ORCL, RHT, RIMM, MU, PALM)

Next Wednesday we will have what almost feels like a tech earnings season, although it’s really just the end of the road before the earnings flurry picks up in mid to late July.  We have Oracle Corp. (NASDAQ:ORCL), Red Hat Inc. (NYSE: RHT), and Research In Motion Ltd. (NASDAQ: RIMM) all reporting earnings.  To make matters even more interesting, we have Palm Inc. (NASDAQ: PALM) and Micron Tech (NYSE: MU) reporting earning on Thursday.  We have included estimates out of First Call and average analyst targets for each, but keep in mind that these estimates will change slightly after the weekend.

Oracle Corp. (NASDAQ:ORCL) is going to to be the most important for determining th strength of enterprise business operations for tech.  The enterprise software giant is expected to post $0.44 EPS on $6.86 Billion in revenues in its year-end report for Fiscal May 2008.  For the year ahead, its May-2009 estimates are expected to be $1.50 EPS on $25.67 Billion in estimates.  Average analyst targets are roughly $25.00.

We will also get earnings out of Linux software maker Red Hat Inc. (NYSE: RHT) with First Call estimates of $0.18 EPS on just over $153 million in revenues.  The next quarter after this for August will also maek its fiscal year end and estimates are $0.19 EPS on $163.36 million in revenues.  As far as average analyst targets, this one is very close with targets being around $23.00 to $24.00.

The entire cell phone and electronic gadget market is going to brace for Research In Motion Ltd. (NASDAQ: RIMM) earnings on Wednesday.  The company is expected to to post $0.85 EPS on $2.27 Billion in revenues.  For the next quarter estimates are $0.90 EPS on $2.43 Billion in revenues, and the estimates for Fiscal Feb-2009 are $3.88 EPS on $10.35 Billion in revenues.  Analysts have an average of target range of between $160.00 and $165.00, although some newer and raised targets have recently taken this one over $200.00 for a year out.

To make matters even more interesting, we have Palm Inc. (NASDAQ: PALM) and Micron Tech (NYSE: MU) reporting earning on Thursday. 

With today being options expiration date we are not including any options expectations to the stocks.  We’ll also follow up ahead of earnings with more detailed analysis on what the charts and other key metric expectations are for each company.  It may be a slow summer, but not every day.

Jon C. Ogg
June 20, 2008

Posted on: June 20, 2008 – 11:22 am in Earnings, Technology Companies, , , , ,

Short Sellers Make Huge Bets Against Financials, Flee Tech

Short sellers are making significant bets that most financial stocks traded on the NYSE will fall sharply. Data is as of May 15 and compares to information on April 30.

Short interest in Countrywide (CFC) rose 26 million shares to 102.4 million Share sold short in National City rose 39.6 million to 138.8 milion. Shares short in Fannie Mae (FNM) rose 17.9 to 104.3 million. Short interest in Washington Mutual (WM) moved up 8.4 million to 192.7 million. Shares short in Freddie Mac (FRE) rose 10 million to 63.2 million. Short interest in Ambac (ABK) moved up 10.1 million to 58.2 million.

Among large cap stocks, the short interest was also up in CBS (CBS) rising by 6.7 million to 37.2 million. Short interest in Motorola (MOT) was up 8.8 million to 48.8 million.

The once sector in which short sellers made a major exit was tech and telecom. Share short in Sprint (S) fell 13.6 million to 83.7 million. Short interest in Texas Intruments (TXN) fell 12.2 million to 35.2 million. Short interest in Micron (MU) dropped 6.4 million to 76.9 million. Shares short in HP (HPQ) fell 4.3 million to 23.2 million. And short interest in AMD (AMD) dropped 1.1 million shares to 98 million.

Data from NYSE

Douglas A. McIntyre

Posted on: May 22, 2008 – 3:14 am in Short Interest, , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (CENT, CSUN, EP, FSLR, INTU, MDT, MU, NOV, NUE, PALM)

These are ten of the analyst calls we are focusing on this morning:

  • Central Garden (NASDAQ: CENT) raised to Buy at Piper Jaffray.
  • China Sunergy (NASDAQ: CSUN) raised to Hold at Jefferies.
  • El Paso (NYSE: EP) Cut to Neutral from Buy By Goldman Sachs.
  • First Solar (NASDAQ: FSLR) Cut To Underperform From Mkt Perform By FBR.
  • Intuit (NASDAQ: INTU) Cut To Hold From Buy By Citigroup.
  • Medtronic (NYSE: MDT) Raised to Buy from Neutral at Goldman Sachs.
  • Micron Technology (NYSE: MU) Raised to Buy from Hold at Deutsche Bank.
  • National Oilwell Varco (NYSE: NOV) Cut to Add from Buy at Calyon.
  • Nucor Corp (NYSE: NUE) Cut to Neutral from Buy at UBS.
  • Palm (NASDAQ: PALM) Cut to Sell from Neutral at UBS.

Jon C. Ogg
May 21, 2008

Posted on: May 21, 2008 – 7:03 am in Analyst Calls, , , , , , , , , ,